PAYE Problems Ahead For SMEs

14 Sep 2018 | 09.58 am

PAYE Problems Ahead For SMEs

Big Red Cloud celebrates 25 years

14 Sep 2018 | 09.58 am

More than 250 accountants and SME owners assembled to celebrate 25 years of Big Red Cloud and to hear presidential candidate Sean Gallagher tell them that, should he win the election, he wants to be “a champion for entrepreneurs”.

The birthday party took place at Microsoft HQ in Sandyford, where Gallagher’s keynote address emphasised the importance of Ireland’s entrepreneurs and their contribution to society and promised that he would be a champion for enterprise if he is elected next month.

Big Red Cloud chief executive Marc O’Dwyer told the audience: “The Big Red brand is a true Irish success story of an SME that has weathered a few economic storms, moved with the huge technological advancements we have experienced in the last quarter of a century and come out the other side smiling!

“Today is not just a celebration of our own work, but of our clients continued and unwavering support over the years.”

O’Dwyer sounded a note of warning about the overhaul of the PAYE system which takes effect on 1 January 2019.

“Our recent survey showed that two-thirds of  SMEs are short on detail on the PAYE system overhaul, with 40% saying they are not at all prepared for the changes.

“Feedback from accountants and bookkeepers has raised some concerns about the additional compliance that PAYE modernisation will place on smaller employers. Such employers typically present payroll records to their accountant or bookkeeper on an annual basis, for submission of the P35. 

“A real-time system places both a cost burden on these smaller employers, as well as a logistical issue for how they will communicate payroll information on a routine basis throughout the year.”

Big Red Cloud started out as accounting product company Big Red Book, adding payroll management in 2012 and then morphing into a software-as-a-service provider.

 

Photo: Sean Gallagher (left) and Marc O’Dwyer. (Pic: Alan Rowlette)

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